(PRNewswire) — (TSX:
IMP) -Intermap Technologies Corporation ("Intermap" or the "Company") today
reported financial results for the second quarter ended June 30, 2014.
A conference call will be held tomorrow, August 12th, at 10:00 a.m. Eastern Time to discuss the results.

All amounts in this news release are in United States dollars unless
otherwise noted.

Intermap reported total revenue of $2.4 million for the second quarter
of 2014, a 12% increase from the first quarter of the year. Second
quarter revenue of $2.4 million is compared to $8.9 million in the same
period of 2013. During the second quarter of last year, $7.6 million of
mapping services revenue was recognized on a new $15.0 million contract
that was announced earlier in the year. No similar sized contract was
closed during the first six months of the current year, making up the
majority of the variance between the current year and the prior year
periods. Net loss for the second quarter of 2014 was $3.5 million, or
($0.04) per share, compared to a net profit of $170 thousand, or
($0.00) per share, for the second quarter of 2013. Second quarter
adjusted EBITDA, a non IFRS financial measure, was a loss of $2.8
million, a decrease from an adjusted EBITDA profit of $2.2 million for
the same period in 2013. Adjusted EBITDA excludes share-based
compensation, gain or loss on the disposal of equipment, and gain or
loss on foreign currency translation.

"Our continued focus during the quarter was the further development of
our 3DBI® (3D business intelligence) software applications," said Todd Oseth,
President & CEO of Intermap. "We're pleased to report that during the
quarter we successfully introduced two new 3DBI software applications;
InsitePro™ and GeoPro Server™. InsitePro is a Software-as-a Service
("SaaS") product built to analyze location specific risk caused by
natural catastrophes. It is a powerful tool that gives users the
ability to evaluate risk for locations one-by-one or thousands at a
time via innovative risk models and analytics. GeoPro Server is the
centerpiece of our Orion Platform®. It functions as a geospatial-data agnostic server deriving actionable
answers from "big data". The application allows users (novice, or
geospatial expert) to turn disparate geospatial data into simple to use
information."

Mr. Oseth added, "Shortly after the introduction of InsitePro, we
announced that a Top 10 Global Reinsurer had entered into an agreement
with Intermap to license the application for use in a Latin American
country. We see this as a significant endorsement for the application
and we are optimistic that additional licenses will follow not only
from this customer, but from other potential customers around the
world."

"In addition to our progress on 3DBI software applications, we continue
to progress towards the closing of a major international Orion Platform
spatial data infrastructure contract," added Mr. Oseth. "The
availability of our recently announced 3DBI software applications plays
a pivotal role in winning Orion Platform projects. These projects are
primarily government sourced and are inherently very complicated. They
typically carry long sales cycles due to (i) the dollar magnitude of
the contract, (ii) the individual country's political landscape, (iii)
the timing of budgets, (iv) the multi-agency and multi-level government
approval process, (v) the complexity of the project, and (vi) the
funding mechanisms required for the project (i.e. banking syndicates).
We remain optimistic that we will be able to announce the signing of
one or more of these contracts before the end of the year, but due to
the factors mentioned above, the actual timing is very difficult to
predict."

Financial Review

Consolidated revenue for the second quarter of 2014 totaled $2.4 million
and included (i) $0.1 million in mapping services, (ii) $0.2 million in
professional services, (iii) $1.8 million in data licensing, and (iv)
$0.3 million in 3DBI software licensing. For the same period in 2013,
consolidated revenue totaled $8.9 million and included (i) $7.6 million
in mapping services, (ii) $0.2 million in professional services, (iii)
$0.7 million in data licensing, and (iv) $0.4 million in 3DBI software
licensing. Contract backlog at the end of the quarter totaled $0.4
million.

For the second quarter of 2014, personnel expense was $3.1 million,
compared to $3.2 million in the previous year. The decrease was
primarily due to reduced commission expense consistent with decreased
revenue recognized on a year-over-year basis.

For the second quarter of 2014, purchased services and materials expense
was $1.5 million, compared to $2.7 million during the same period last
year. The decrease in this category of expense is primarily due to
project specific costs associated with airborne data collection efforts
in the previous year with no similar work under contract in the current
year. Purchased services and materials includes (i) aircraft related
costs, including jet fuel, (ii) professional and consulting costs,
(iii) third-party support services related to airborne data collection
efforts, processing and editing of the Company's data collection
efforts, and (iv) software expenses (including maintenance and
support).

The cash position of the Company at June 30, 2014 (cash and cash
equivalents) was $3.9 million, compared to $2.4 million at December 31,
2013. Amounts receivable and unbilled revenue at June 30, 2014 was $3.1
million, compared to $6.6 million at December 31, 2013. Working capital
was negative $2.6 million at June 30, 2014, compared to positive $3.9
million at December 31, 2013 (see "Intermap Reader Advisory" below).

Detailed financial results and management's discussion and analysis can
be found on SEDAR at:
www.sedar.com.

Second Quarter Business Highlights (Previously Announced)

Intermap announced the launch of InsitePro™, a SaaS based product built
on its history of providing risk solutions worldwide. The application
was purpose-built to visualize and analyze location-specific risk
caused by natural catastrophes. It provides property and casualty
carriers, insurance brokers, enterprise risk managers, and government
agencies with a powerful tool to evaluate locations one-by-one, or
thousands at a time via innovative risk models and analytics. InsitePro
is the only risk management application that accesses Intermap's
WorldFlood™ model, which forecasts uniform flood coverage anywhere in
the world.

Intermap announced an agreement to license its InsitePro software
application to a Top 10 Global Reinsurer for use in a specific Latin
American country. InsitePro leverages Intermap's best-in-class NEXTMap® and NEXTMap World 30™ elevation data. Point-specific ground elevation
allows users to go beyond flood models to better understand the risk of
flood by determining heights above flood elevation, flow routes from
rivers to buildings, and safer locations for new infrastructure and
buildings. InsitePro can also display a customer's proprietary risk
data or any available government data.

Intermap announced the commercial availability of GeoPro Server, a
server purpose-built for turning big data into smart decisions. GeoPro
Server allows users (novice and geospatial expert) to turn disparate
geospatial data into simple to use information. The application can
provide enterprises and governments with easy access to all of their
geospatial and non-geospatial data via a web service or web portal
without regard to the data's source or original file format. GeoPro
Server offers a multi-touch display that allows users to control
terabytes of data from a tablet or laptop.

Intermap was awarded a commercial third-party database license to use
the Traffic Audit Bureau ("TAB") ratings in its AdPro ® software. After successfully passing TAB's rigorous technical standards
and audit committee, AdPro now provides access to the TAB Ratings
Database. By leveraging standardized TAB ratings directly within AdPro,
users can measure return on investment for their out-of-home campaigns
utilizing a trusted ratings system similar to those used in TV and
radio campaigns.

The Company announced a $1.0 million contract to provide digital
elevation data and orthorectified radar imagery from its NEXTMap ® database. The data will be used by the customer for geospatial related
applications and the delivery of the data occurred during the second
quarter 2014.

Intermap introduced its new Vice President of Sales, Jon Freeman . Mr.
Freeman is a technology and sales veteran bringing twenty years of
consistent sales production and executive management experience to the
position along with a successful record for business development in a
variety of software/high-tech industries. Mr. Freeman most recently
served as Vice President Sales for Solarwinds/Confio Software Inc., a
leading provider of software solutions delivering database, server,
storage, and networking tools.

Intermap announced the appointment of David Sikes to its Board of
Directors effective April 9, 2014 . Mr. Sikes is a Principal for Exeter
Consulting, specializing in consulting for technology start-up
companies. He has held technical and executive roles in technology
based companies throughout his entire career. He has also held key
board positions with several technology companies including most
recently ten years with an internet/Software-based/B-to-B marketing
company in the automotive industry.